Motivation, Determination, Patience, Discipline

In Short MODPAD. IN a traders life, there is the ups and down just like the sentiments and reflection of the whole Forex market, there is ups and downs.Even after a good winning streak in a few months, there is a losing streak that can even last for a month or weeks. Its the life cycle that everyone is experiencing, that includes any job in the world including trading. So why worry so much of your loss, as long as you do not emotionally make decision on revenge trading, over trading, that will certainly drain your account into the toilet.

If you lose confidence, start small again with your position size to regain those momentum and confidence back, slowly gradually make a slow plan on your goals achieving every profit turns. Accepting your losses even better, embracing it as if you already know that it is a fact of life and trading that there are bottoms and highs.

Learn from it, next time put a limit to your losses, how many losses do you want to stop trading. when do you eventually want to start trading again. Next weeks or even next day? The important thing here is that you know your self , about your self, when do you become so focus and sharp in your thinking and decision making. Sometimes it takes a happy though or activities to ignite back those positive feeling which will reflet a positive decision and a positive profit!.

Find what motivates you ! What motivates me is playing a couple of PC games, go out for a break, may be swim, jog, watching a cinema, ahything that can put your mind off from losing a trade and thinking it back. Once you feel refresh and focus that you can re analyse what you did wrong. Was you ? was it just a failed setup which normally does occur on ANY system. Then you can observe your reaction after that first loss, that you actually went to over trading and revenge trading. You learn from it and from there that motivates you to do better next time that 1 loss , back off and do something else, unless you master your self already which means 1 loss means nothing but continue to find the best setup.

What makes you determined. You have a winning system, why want to find another one after a loss ? That’s just an excuse that you are blaming your system. In fact all the losses and the decision after that is you are still emotionally unable to accept losses and has a blame culture instill inside your self that reflects back to your trading regime. If you are determine that you have the tools , continue with it. If in backtesting you are able to grow an equity, than you are able to anticipate the real market condition with confidence and determination. It’s true that past performance does not indicate future results but if you have a best winning statistic, the probability of your trading is in your favor. Forex trading is a game of probability.

Patience. Are you patience enough to accept losses and wait patiently for another best setup? Simply patience is the hardest thing to master. Even for me It took years and even now I sometimes tempt to make decision without patience. How I become patience ? Slowly, Write down on my journal, and keep on reading it back that I am waiting for the next best setup only and patiently move away from the computer screen to clear of your mind and began fresh again. Backtest a couple more on your bactesting software or strategy tester, untill you feel and in tune with the market for a good setup.

With mastering all of the above, I am sure you then in a sense that you won’t even know that you are well discipline in your trading , and you trade with a good planning and analysis. Stick with it, never deviate. Just try remember the last time you did, and made a suffering to your account. Protect it, be accountable on your action. Remember your goal as a trader and your yearly goal , how much you want to achieve. Protect your emotion because if you cannot control it, than you cannot trade consistently.

Its YOU vs YOURSELF. The market does not care shit what you are thinking and how much you are earning.